Aysha Ltd. forfeited 1,10,000 shares of % 10 each issued at 20% premium for the non-payment of first call…………………

Class 12th Accountancy, Question paper 2023 -Aysha Ltd. forfeited 1,10,000 shares of % 10 each issued at 20% premium for the non-payment of first call of 2 2 per share and final call of @ 3 per share. Share Forfeited Account will be credited with :

By
Komal Kohli
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Question :Aysha Ltd. forfeited 1,10,000 shares of % 10 each issued at 20% premium for the non-payment of first call of 2 2 per share and final call of @ 3 per share. Share Forfeited Account will be credited with :

(A) %5,50,000

(B) 2% 7,70,000

(C) % 2,20,000

(D) %5,00,000

The correct answer is -(D) %5,00,000

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